Veterans Benefits Claims Consumer Protections

The bill makes it a deceptive trade practice under the "Colorado Consumer Protection Act" for a person who advises, assists, or consults a veteran, in connection with a claim for veterans' benefits (veterans' benefits matter), to: Receive compensation in excess of $12,500 for the service, subject to additional limitations linking permissible compensation to results delivered; Receive compensation for referring a veteran to a third party; Collect compensation on behalf of a third party engaged to assist with any aspect of a veterans' benefits matter; Receive compensation in connection with a claim filed within the one-year period following a veteran's release from active duty without a signed waiver from the veteran; Fail to provide a veteran the option of an interest-free payment plan; Guarantee a successful outcome in a veterans' benefits matter or engage in certain direct advertising; Fail to memorialize the payment terms and certain disclosures in a written, signed business agreement; Fail to take various security measures related to veterans' personal information; or Fail to remain a member in good standing of a national veterans' benefit trade organization that holds members to ethics and certification standards. The bill requires the attorney general or district attorney to transmit any civil penalty collected for a violation of the veterans' benefits matter provisions to the state treasurer for deposit in the Colorado state veterans trust fund. (Note: This summary applies to this bill as introduced.)